Toyota JV breaks ground on new R&D center in China
10 August 2013
FAW Toyota Research & Development Co., Ltd (FTRD), a joint-venture R&D company between Toyota Motor Corporation (TMC) and China FAW Group Corporation (FAW), held a ground-breaking ceremony in Tianjin, China at the site for its new R&D facility in the Western Zone of the Tianjin Economic-Technological Development Area (TEDA).
In November 2012, the technology departments of Tianjin FAW Toyota Motor Co., Ltd. (TFTM) and Sichuan FAW Toyota Motor Co., Ltd. (SFTM) were spun-off to create FTRD, a company aimed at enhancing the R&D of TMC and FAW’s joint- venture activities.
FTRD began operations inside the premises of TFTM’s TEDA Plant in May. FTRD will move to the new 110,000 m2 site in 2015, when the design building, laboratory building and other major facilities are scheduled for completion. FTRD is a base for vehicle-body development in China and carries out development of cars for the Chinese market—including for the “Ranz” brand, an original TMC-FAW joint venture brand.
Investment in the new R&D center is 1.27 billion yuan (US$207 million); the center is 80% owned by TFTM and 20% by SFTM.
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